Shearman & Sterling LLP advised Viacom Inc. in its first public finance transaction since it was separated from CBS Corp. at the end of 2005.  The $4.75 billion offering of senior notes and debentures under Rule 144A and Regulation S included $1.5 billion in senior notes due 2011, $1.5 billion in senior notes due 2016, and $1.75 billion in senior debentures due 2036.  Viacom Inc.'s businesses include Paramount Pictures and cable networks: MTV, Nickelodeon, Nick at Nite, VH1, Spike TV, CMT, Logo, Comedy Central and BET.  Viacom intends to use the net proceeds of the offering to refinance existing debt.

The Shearman & Sterling team advising Viacom included partners Stephen T. Giove (New York - Capital Markets), Lisa L. Jacobs (New York - Capital Markets) and Don J. Lonczak (New York - Tax) and associates Timothy Andison (New York - Capital Markets), Sam Medlin (New York - Capital Markets), Peter Psiachos (New York - Tax) and Catherine Ugeux (New York - Capital Markets).